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Monday, April 20, 2015 1:33:44 AM
production intentions at Goldfield Basin.
A full operating permit at Goldfield Basin will include the removal and processing of 1,000 tons
per day. As we continue to move forward with our plans to create a sufficient resource from our
notice of intent permits, we are looking to establish a resource of a minimum of 5 years tonnage
or approximately 1.5 million tons. We believe we can establish this with our notices of intent
over about 10% of our 620 acres owned mining claims.
A 1,000 tons per day operation operating approximately 300 days per year will process
approximately 300,000 tons of ore per year. We estimate that the ore will average .15 ounces
per ton of gold and 2.5 ounces per ton of silver for a combined value of at least $200 per
ton. $200 per ton times 300,000 tons equals $60 million. The company estimates costs of
processing to be approximately 50% or $30 million leaving an annual projected net income of
$30 million per year for the owners.
1.5 million tons of ore resource equals 5 years of operation and $30 million per year projected
return.
If we are to look at the fact that this estimate is only based on 10 feet of depth and there are at
least 30 feet of material available to us, the estimated volumes from this operation creates 15
years production with only 10% of the asset used up and 75 years to use up the estimated ore
in our 620 acres of mining claims.
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